Mitsubishi UFJ Trust & Banking Corp Sells 21,768 Shares of H&R Block, Inc. (NYSE:HRB)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in H&R Block, Inc. (NYSE:HRBGet Rating) by 36.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,932 shares of the company’s stock after selling 21,768 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in H&R Block were worth $1,340,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of H&R Block by 2,075.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 33,700 shares of the company’s stock worth $1,190,000 after acquiring an additional 32,151 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of H&R Block by 204,740.0% in the 1st quarter. Meeder Asset Management Inc. now owns 10,242 shares of the company’s stock worth $267,000 after acquiring an additional 10,237 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of H&R Block by 2.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 70,770 shares of the company’s stock worth $2,500,000 after acquiring an additional 1,900 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of H&R Block by 14.3% in the 1st quarter. Russell Investments Group Ltd. now owns 950,453 shares of the company’s stock valued at $24,746,000 after buying an additional 119,193 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of H&R Block by 14.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 69,540 shares of the company’s stock valued at $2,456,000 after buying an additional 8,858 shares during the period. 87.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other H&R Block news, insider Karen A. Orosco sold 50,000 shares of H&R Block stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $45.00, for a total transaction of $2,250,000.00. Following the transaction, the insider now owns 89,733 shares of the company’s stock, valued at approximately $4,037,985. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

H&R Block Price Performance

HRB stock opened at $42.82 on Monday. The company has a market capitalization of $6.66 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 0.89 and a beta of 0.60. The company has a debt-to-equity ratio of 7.03, a quick ratio of 0.92 and a current ratio of 0.92. H&R Block, Inc. has a 52-week low of $21.08 and a 52-week high of $48.76. The business has a 50-day simple moving average of $41.59 and a two-hundred day simple moving average of $39.21.

H&R Block (NYSE:HRBGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.09. H&R Block had a negative return on equity of 613.29% and a net margin of 15.56%. During the same quarter in the prior year, the company posted ($0.78) earnings per share. Research analysts expect that H&R Block, Inc. will post 3.8 EPS for the current fiscal year.

H&R Block declared that its board has approved a stock buyback program on Tuesday, August 9th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 17.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

H&R Block Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Tuesday, December 6th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, December 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.71%. H&R Block’s dividend payout ratio is currently 35.69%.

Analysts Set New Price Targets

HRB has been the subject of several research reports. Barrington Research raised their target price on H&R Block from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. TheStreet downgraded H&R Block from a “b” rating to a “d+” rating in a research note on Tuesday, November 1st. StockNews.com initiated coverage on H&R Block in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group raised their target price on H&R Block from $22.60 to $25.00 and gave the company a “sell” rating in a research note on Thursday, November 3rd.

About H&R Block

(Get Rating)

H&R Block, Inc, through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees.

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Institutional Ownership by Quarter for H&R Block (NYSE:HRB)

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